Permanent or Whole Life Insurance
Whole Life Insurance provides coverage for the life of the insured
Experior Financial Group Inc.
Permanent or Whole Life Insurance
Whole Life Insurance provides coverage for the life of the insured. It provides a death benefit and it may also contain a savings component where cash value can accumulate. These policies are also known as permanent life insurance. Whole Life Insurance guarantees payment of the death benefit in exchange for regularly due premium payments. The savings portion in the policy can be called the cash value or cash surrender value. Interest may accumulate in the savings component on a tax-deferred basis
WHOLE LIFE INSURANCE IS DESIGNED FOR PEOPLE WHO
- Have a permanent need
- Need estate and tax planning
PROBLEMS THAT WHOLE LIFE CAN SOLVE
- Estate planning.
- A very customizable policy with multiple riders to choose from.
- Once you’ve built up cash value in a whole life policy, you can use it as collateral for a loan.
- Provide financial assistance for loved ones after an unexpected death.
- Forced savings that could be used in the event of an emergency.
BENEFITS OF WHOLE LIFE COVERAGE FROM EXPERIOR
- Permanent insurance provides flexibility, stability, and security.
- Your spouse or child will receive a tax-free payment in the event of your death.
- Permanent coverage offers guaranteed premiums that remain unchanged for the life of the insurance policy. Most policies include a factor called cash value which grows over time and can be used as collateral for a loan or borrowed directly against it.
- Permanent insurance offers Lifetime Coverage that does not end after a certain term.
